The S&P/ASX 200 Index (ASX: XJO) has followed Wall Street's lead and is racing higher today. In afternoon trade, the benchmark index is up 1.65% to 7,945.4 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
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Aurelia Metals Ltd (ASX: AMI)
The Aurelia Metals share price is down almost 5% to 29.5 cents. Investors have been selling this gold miner's shares following a pullback in the gold price and the release of its quarterly update. In respect to the latter, the gold miner reported production of 16.6k ounces of gold, 0.5kt of copper, 3.2kt of zinc, and 3.5kt of lead at an all-in sustaining cost (AISC) of $1,593 per ounce. This underpinned operating cash flow from Peak and Dargues of $44.2 million. This is up from $21.1 million during the previous quarter. Aurelia Metals' FY 2025 production and cost guidance remains unchanged.
Cettire Ltd (ASX: CTT)
The Cettire share price is down 17.5% to 54 cents. The catalyst for this has been the release of a disappointing third quarter update from the online luxury products retailer. Cettire achieved a 1% increase in sales revenue over the prior corresponding period to $260.1 million. However, this was achieved with a delivered margin of 14%, which reflects a continuation of heightened promotional activity. This led to an adjusted EBITDA loss of $4.7 million for the period, which is inclusive of $2.1 million realised foreign exchange losses. Management warned that the fourth quarter was likely to be tough. It highlights that there "continues to be uncertainty within the global personal luxury goods market, with softer demand persisting."
Northern Star Resources Ltd (ASX: NST)
The Northern Star share price is down 8% to $21.17. This has been driven by a pullback in the gold price overnight and a shift out of safe haven and risk-off assets. Northern Star isn't the only gold miner on the decline today. The S&P/ASX All Ordinaries Gold index is down by a sizeable 7.7% at the time of writing.
Woolworths Group Ltd (ASX: WOW)
The Woolworths share price is down 1% to $31.46. This also could have been caused by investors switching out of risk-off assets and back into risk-on assets. As a supermarket giant, Woolworths shares are popular with investors when markets become volatility. So much so, they are up almost 7% since this time last month despite the market weakness.
